The Duty of Loyalty,one of the Fiduciary Duties of Board

question 3

True/False

The duty of loyalty,one of the fiduciary duties of board members,includes a duty not to take corporate opportunities for their own purposes and a duty not to self-deal.

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Definitions:

Society's Welfare

Refers to the overall well-being and quality of life of the people in a community, including factors like health, economic stability, and social relationships.

Marginal Social Benefit

the additional benefit to society as a whole from consuming one more unit of a good or service.

Marginal Social Cost

The additional cost imposed on society as a whole by producing one more unit of a good or service.

Marginal Benefit Curve

A visual chart illustrating the variation in consumer advantage as the amount of a product or service rises.